FREE TRIAL for REAL TIME ACCESS to technical views/analysis of 25+ Commodities, Forex Pairs, Indices, Stocks.
[OVER TRADING & REVENGE TRADING]
Trading every wave/candle is a poor strategy. No one has ever made money like that. Most new traders fall into this trap. It evokes emotions leading to over trading & revenge trading. It is the quickest way to blow up healthy accounts.
Wait for the good risk/reward opportunity
Operate close to supports/resistances
Identify low risk entry points
Place tight SLs with 1% rule
Get into the habit of taking profits - all of this remains the key.
80% of the battle in trading is won with discipline. Trading is actually a lot of hard work & can be a slow grind. Requires 3Ps - Persistence, Perseverance & Patience.
There is also a 4th. The MOST IMPORTANT P.
Peace of mind.
PEACE of MIND should be non-negotiable in trading.